Descente Ltd., citing a return to a business environment close to conditions before the Covid-19 pandemic, with the exception of some regions, has raised its first half and full-year financial outlooks. First half sales for Descente Japan Ltd. and Descente Korea Ltd. for six months ending Sep. 30 are described as strong.
The group has raised its H1 net sales outlook by 4.7 percent to 55,500 million yen (€399.6m) from ¥53,000 million. The corresponding operating income forecast for the six months has been elevated by 25.0 percent to ¥3,500 million (€25.2m) from ¥2,800 million. Meanwhile, a ¥1,000 million (€7.2m) drop in deferred tax liabilities led Descente to increase its H1 profit attributable to owners of the parent by 43.3 percent to ¥4,300 million (€30.96m) from ¥3,000.
For the full financial year ending March 31, 2023, Descente is currently forecasting a 35.7 percent increase in year-over-year profit attributable to owners of the parent at ¥9.500 million (€68.4m) versus ¥7,000 million previously. Annual operating income is now expected to increase 11.7 percent from a prior outlook of ¥6,000 million to ¥6,700 million (€48.24m). The FY revenue forecast has been elevated by 2.2 percent from ¥114,000 million on May 12 to ¥116,500 million (€835.2m).
